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The government sent the proposal for the minimum wage for 2024 to the National Congress, generating expectations among Brazilians about the increase. Find out more details.
The Lula government, through its economic team, submitted a proposal regarding the 2024 minimum wage to the National Budget Congress of the same year. In view of this, many Brazilians are anxious about the possible adjustment in the base salary value.
A common question among citizens is regarding the effective date, if Congress approves the proposal. Continue reading and stay up to date with information about the 2024 minimum wage.
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Understand when the 2024 minimum wage should come into effect
First, it is important to emphasize that, as announced by the Minister of Planning and Budget, Simone Tebet, the suggestion is to establish the minimum wage for 2024 at R$1,421. This implies an increase of R$101 compared to the current value. When the proposal was announced, the Minister of Finance, Fernando Haddad, was also present.
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Although still pending approval, if accepted, the new minimum wage amount will begin to be applied from January 2024. The suggested increase of R$7.7% in the base income changes the suggestion contained in the Budget Guidelines Law (LDO), which Congress received in April. The previous document proposed a minimum wage of R$1,389TP4T for 2024.
Find out more about the suggested 7.7% increase in Base Income
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The proposal to set the minimum wage at R$1,421 for 2024 already complies with the current adjustment rule. The value takes into account the inflation forecast up to November 2023, based on the National Consumer Price Index (INPC). Additionally, the increase of R$101 also reflects the growth of the Gross Domestic Product (GDP) over the last two years.
